DECC’s latest offshore O&G licensing round gets strong response. Acreage awards in autumn

Department of Energy & Climate Change has reported that the latest offshore oil and gas licensing round, which closed for applications on Friday 25 April, has received a strong response with 173 applications from industry for around 370 blocks.

Energy Minister Michael Fallon

Energy Minister, Michael Fallon, said: “It’s 50 years since North Sea licensing began and there remains an extraordinary level of interest which is excellent news for industry and for the UK economy.

“We have committed to implementing all of Sir Ian Wood’s recommendations to help maximise recovery of North Sea oil and gas, and the Chancellor is reviewing the tax regime.

“Making the most of Britain’s home grown energy is crucial to keep job and business opportunities, get the best deal for customers and reduce our reliance on foreign imports.”

The department will scrutinise applications over the coming months and aims to start awarding acreage in the autumn.

The UK’s oil and gas sector still provides almost half of the country’s energy and is by far the largest single industrial UK investor. Directly and indirectly it supports around 450,000 jobs in the UK.

Press Release, May 06, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply